Chinese, U.S. executives call for ‘prompt resolution’ of economic rows amid fears of trade war


Photo: AFP

Top executives of Chinese and American companies have urged their governments to promptly resolve trade disputes through “effective negotiation” amid concerns that the two nations are heading towards a trade war.

Twenty business leaders made the appeal during the first U.S.-China Business Leaders Summit held at the U.S. Commerce Department in Washington on Tuesday.

The event was co-chaired by the head of the Chinese e-commerce giant Alibaba, Jack Ma, and the chief executive of the U.S. investment and financial services firm Blackstone, Stephen Schwarzman.

“While respecting the use of traditional trade remedies, we hope that trade disputes can be resolved through effective negotiation with both sides working for prompt resolution,” a statement from the summit said.

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